The Mortgage Market Guide for Friday October 19th 2007
"I feel good" Just like that line from James Brown. Mortgage Bonds are feeling pretty good right now, moving higher in response to continued selling pressure in Stocks.
But this weeks recent move lower in Stocks is nothing like what happened exactly twenty years ago today...Black Monday, which marked the largest one day Stock sell off in history. Triggering a reduction in the value of all US Stocks to the tune of $500 Billion. Prior to that wild meltdown, 1986 and 1987 had been banner years for the equity markets.
Bond prices have opened higher each of the last two days - this is a sign of increased demand for Bonds, which is a real positive. If the Bond can hold at present levels, the next ceiling of resistance lies at the 2007 price highs. We will continue to Float and enjoy this bullish run in Bonds, but should Stocks and Bonds decide to "exchange seats" and reverse course, we will recommend locking to protect this weeks gains.
It is a good time to check out your situation for your conventional loan refinance opportunities that lie ahead.
The revised and updated newsletter is now posted on this site to print and read. There is a great seafood recipe. Thank you for listening and we will have another report for you Monday.
This is just a copy of today lock report. It only is broadcast on the website and you can listen to it daily. Make it one of your favorites.
www.contactherrick.com
Roger Herrick
California Mortgage Broker
;)
;)
The website has a live voice for DAILY updates.